Public Sector Enterprises were to shoulder a vital role in economic development of independent India in accordance with the letter and the spirit of the Constitution, especially consistent with the State’s mandate stipulated in the Directive Principles.
The authorities made a tall claim that this act would prove to be highly effective in the recovery of NPAs from the corporates as otherwise, these corporate borrowers would face liquidation. Under the direction of RBI, in June 2017, banks referred 12 largest NPA accounts amounting to Rs 3,45,000 crores, constituting 25 per cent of... Continue Reading →
If privatizing banks is the political decision of the Government, the trade unions have the political task to oppose it and defend public sector banks. Our commitment to public sector banking is non-negotiable and irreconcilable. Read More >>
The 1969 banking policy intervention was among the most important tools for a broad-based economic transformation and social justice during the dirigiste era, or during the period of planned economic development soon after independence. Read More >>
In the beginning of seventies the crisis of Nehruvian path to development of Indian capitalism was evident through the growing influence of monopoly capital and the resultant impediments to deployment of bank finance for the broadening and deepening of the roots of capitalist class in India. Read More >>
While celebrating 52 years of Nationalization, we have a government led by people who along with their party opposed Nationalization and now want to privatize everything. It is important to look at History and plan for the future. Read More >>